Happy Monday!
Hey! It's Kyle Patrick. Join us as we unwrap the latest in the Farcaster and Base Ecosystem!
Jacek, the lead for $DEGEN, has announced a significant update to the $DEGEN tipping system, set to take effect in Season 5 starting June. Previously, from Seasons 1 to 4, users' tipping allowances on $DEGEN were directly tied to their engagement metrics, such as the number of likes and recasts they received. This system determined the amount of $DEGEN tokens users could distribute daily. However, starting in Season 5, the method for calculating these allowances will undergo a major transformation.
The new system will utilize exponential decay and social graph data provided by Open Rank to determine users' allowances. This approach is expected to create a more dynamic and fair distribution of $DEGEN tokens -- rewarding quality over quantity. Approximately $5 million $DEGEN tokens will continue to be distributed daily in the form of tipping allowances. However, the bulk of these allowances will be allocated to the top 500-1000 users on the platform, making it crucial for users to maintain a strong presence to stay within this top tier. The exact query for this can be found here. Rankings will be updated based on the social graph and follower connections rather than just likes on casts.
Another notable change in the new system is the removal of the minimum post requirement. Previously, users needed to make a certain number of posts to qualify for their tipping allowance. Now, the primary requirement is to have at least 10,000 $DEGEN tokens in their wallet. Additionally, users must tip at least five times within the last seven days to maintain their ranking. Failure to do so will result in a drop in their ranking, affecting their future allowances.
The algorithm update is scheduled to go live on Tuesday, May 28, 2024. As the $DEGEN ecosystem continues to evolve, these updates aim to enhance the user experience and ensure a more equitable distribution of $DEGEN tokens. Users are encouraged to stay active, engage with the community, and adapt to the new system to maximize their tipping potential in the upcoming season.
Oh and also, Jacek is testing something out. From the hints he poste, it might be related to showering people with $DEGEN. Check it out here https://dune.com/queries/3728802 and here.
Update: It's announced. You will be able to drop $DEGEN to users who reply to your cast. You just need to like their replies and they will be tipped. More here.
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Kyle Patrick
Over 2.9k subscribers
$DEGEN Changes the Tipping Game I'm an Ambassador with @kylepatrick.eth
I'm an Ambassador @kylepatrick.eth 🫶 https://paragraph.xyz/@ambassadors/degen-changes-the-tipping-game
Thanks for sharing! Gg 🍖x100
For the culture 🤌
In case you missed the recent updates around $DEGEN tipping. I have summarized it here! https://paragraph.xyz/@ambassadors/degen-changes-the-tipping-game
Thanks for the infos Kyle 50 $degen
Great work
How does this change your LRC style of casting.
What do you mean?
I just found your account recently. You do a lot of like, recast, comment casting. That behavior is less rewarded in new algo. I don’t know your reasons for LRC snd generally unfollow people who do. So I wondered if new algo makes you rethink your engagement farming strategy
I must have done something right.. Mine more than 10x’ed! Love this platform! 🎩’s
Ty bro
Really helpful.
thx bro good idea
what is that ?
Thanks boss!
Thank you for sharing! This is very useful
$DEGEN Changes the Tipping Game Also, $NORMIE gets exploited & $Degen Rounds.wtf Round #9. @kylepatrick.eth
Pew pew
Degen wins soon
Have you read the latest @kylepatrick.eth article? I’m an ambassador & receive these to my inbox 🙉
Curious about the changes this upcoming season 4 on degen? I wrote a short explainer along with the news for today! https://paragraph.xyz/@ambassadors/degen-changes-the-tipping-game
Good read fren thanks for all ur work 20 $degen
thanks bro! 22 $degen
Lovely
Thanks Kyle, good read and to the point! I’m stoked to have allowances back in the hands of mostly real, genuine users. I did a comparison of a fake engagement farmers allowances. Dropping from 800+ down to 3! All of them getting rekt is what’s bringing the higher allowances to the real users! 🍖 x 25 $degen
Thanks for the summary kp!
Done
This was very helpful Kyle
i should definitely check this out
Great summary, thank you very much. I think this ranking is not correct, let's wait until tomorrow. https://dune.com/queries/3745431
Excellent information, thanks! 10 $degen
you mean season 5? 20 $degen
pushed an update thanks! 22 $degen